Key Points
- Saba Capital Management purchased 2,034 Mexico Fund shares at an average price of $21.03, spending $42,775.02. The major shareholder now owns 2,312,612 shares, a 0.09% increase in ownership.
- Saba Capital has made multiple additional purchases in recent months, including 6,403 shares on September 16 and 459 shares on September 15, indicating continued accumulation of MXF stock.
- Mexico Fund shares opened at $21.06, within a 52-week range of $18.30 to $23.00. The fund also declared a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 payout and a 6.6% yield.
Mexico Fund, Inc. (The) (NYSE:MXF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 2,034 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average cost of $21.03 per share, with a total value of $42,775.02. Following the completion of the transaction, the insider directly owned 2,312,612 shares in the company, valued at $48,634,230.36. This represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Wednesday, September 16th, Saba Capital Management, L.P. purchased 6,403 shares of Mexico Fund stock. The stock was purchased at an average price of $20.63 per share, for a total transaction of $132,093.89.
- On Tuesday, September 15th, Saba Capital Management, L.P. acquired 459 shares of Mexico Fund stock. The stock was purchased at an average cost of $20.89 per share, with a total value of $9,588.51.
- On Thursday, August 13th, Saba Capital Management, L.P. acquired 2,952 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.41 per share, with a total value of $63,202.32.
- On Tuesday, August 4th, Saba Capital Management, L.P. acquired 9,362 shares of Mexico Fund stock. The shares were purchased at an average price of $22.19 per share, with a total value of $207,742.78.
- On Wednesday, July 29th, Saba Capital Management, L.P. bought 3,077 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.34 per share, for a total transaction of $65,663.18.
- On Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The stock was purchased at an average price of $21.56 per share, for a total transaction of $56,228.48.
- On Wednesday, July 22nd, Saba Capital Management, L.P. purchased 7,623 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.80 per share, with a total value of $166,181.40.
- On Thursday, July 23rd, Saba Capital Management, L.P. purchased 414 shares of Mexico Fund stock. The shares were acquired at an average price of $21.11 per share, with a total value of $8,739.54.
- On Tuesday, July 21st, Saba Capital Management, L.P. acquired 200 shares of Mexico Fund stock. The stock was acquired at an average cost of $21.52 per share, for a total transaction of $4,304.00.
- On Monday, July 20th, Saba Capital Management, L.P. acquired 7,631 shares of Mexico Fund stock. The shares were acquired at an average price of $21.49 per share, with a total value of $163,990.19.
Mexico Fund Price Performance
NYSE:MXF opened at $21.06 on Wednesday. The firm has a 50-day moving average of $21.56 and a 200-day moving average of $21.52. Mexico Fund, Inc. has a one year low of $18.30 and a one year high of $23.00.
Mexico Fund Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 21st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Wednesday, October 21st.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Mexico Fund during the second quarter valued at approximately $33,000. Blue Bell Private Wealth Management LLC raised its position in Mexico Fund by 109.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,235 shares of the investment management company's stock valued at $105,000 after buying an additional 2,735 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Mexico Fund in the 2nd quarter valued at $215,000. Evolve Private Wealth LLC bought a new position in Mexico Fund during the 2nd quarter valued at $278,000. Finally, Calamos Advisors LLC lifted its stake in Mexico Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company's stock valued at $446,000 after acquiring an additional 2,535 shares in the last quarter.
About Mexico Fund
(
Get Free Report)
Mexico Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol MXF. The fund seeks long-term capital appreciation primarily by investing in equity securities of companies based in, or with significant business activities in, Mexico.
The fund provides investors with access to Mexican public companies across multiple industries and may invest through common stocks, preferred stocks, and other securities. Its portfolio is managed with a focus on Mexico's economic and corporate markets, giving shareholders a vehicle for country-specific equity exposure.
Mexico Fund, Inc is advised by Impulsora del Fondo México, SA de C.V., an investment management firm based in Mexico.
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